Best Buy 2006 Annual Report Download - page 101

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$ in millions, except per share amounts
87
PART II
Condensed Consolidating Statements of Earnings
For the Fiscal Year Ended February 26, 2005
Best Buy
Co., Inc.
Guarantor
Subsidiary
Non-Guarantor
SubsidiariesEliminations Consolidated
Revenue $16 $23,951$25,742$ ( 22,276 ) $27,433
Cost of goods sold—20,12623,093(22,281 ) 20,938
Gross profit 16 3,825 2,649 5 6,495
Selling, general and administrative expenses 25 3,587 1,571 (130 ) 5,053
Operating (loss) income (9) 2381,078 135 1,442
Net interest (expense) income (12) (68) 81 — 1
Equity in earnings (loss) of subsidiaries 750(77) 29 (702) —
Earnings from continuing operations before
income tax expense 729931,188 (567
) 1,443
Income tax (benefit) expense (21) 65 465 — 509
Earnings from continuing operations 75028723 (567 ) 934
Gain on disposal of discontinued operations(1) 50— —— 50
Net earnings $800 $ 28 $723 $ (567 ) $984
(1)Fiscal 2005 includes a tax benefit of $50 due to the resolution of federal tax matters.